tv [untitled] September 7, 2011 4:31am-5:01am EDT
next an in-depth look into the euro zone's debt troubles the interview coming up. i'm joined by professor roland fallible of the university of mannheim in southwestern germany and he's here to talk with us about the fate of the you're right mr fallible thank you very much for joining us well as expected to court didn't stop a second bailout and germany's participation in it but how do you think its decision may make future bailouts more difficult the complaint has been that. the bail out. is inconsistent with. budgetary law. because it's an open ended commitment. in fact it's so limited in form but it may make a lot more. and the second problem.
is that the democracy principle. has. not absorbed the procedure it's been rather general not very detailed. and the problem is that. the bail out is likely to impair the stability of the your. because so it. will lead to more and more government debt. and if the various member states increase their debt. it's the same time you. are subject to a stronger and stronger incentive to inflate to inflate the debt away but to support them. so they would exert pressure on the european central bank which they have done already last year and this year and the european central bank. central
bank cals. who of course want to be reappointed by their governments they're not so independent they want to be we pointed they may get into this pressure these other three problems and how much does this undermine the integrity of the. world wide are consequences of this this these pay all this will not continue. that will be stopped and will see. the government to alter many people in the government who don't really like since the liberal party doesn't really like it but they feel they are too weak to stop it and. knowledge they. can use the. this decision to. to oppose generous bailouts let's go back to what started all of this and greece how
strongly would you describe the anger being directed at greece now. in germany as the anger is so enormous. all. the majority of the people who have been called absolutely against since. the economists or all this or even more so i would say. greece is really the ball still fall because saw. the previous greek government has been very spendthrift has accumulated very large deficits even before the financial crisis. greece has been a member state of the euro zone which has most frequently violated its stability and growth pact. so they are really conseco that they are the victims of the financial crisis. in fact it was not only the conservative government before
this one but also the. socialist government before the conservative government solids that's a real greek problem it's not a party problem. and then we see that. the greeks are buying gold with the money they get from the bailouts very unpopular and they are not really implementing the conditions. which had been attached with the credits. and. it is well known that tax morag is very poor in greece once saw the germans very upset about greece a much more baku son aboard portugal and. some people started to comment that the markets are looking worryingly like they did before lehman brothers collapsed three years ago how serious is this financial crisis that we're in. i think the crisis is
not not serious it's not comparable to the number of the it's. lehman brothers panic was due to the fact that there was a medium sized bank that's one thing which collapsed and people didn't call. any further the banks would also be allowed to collapse and one of the money supply would contract as happened in the great depression saw it was so there was a lot of uncertainty. since the financial crisis however we have. to support failing banks we have the experience that the governments have supported the failing banks and the money supply has not contracted and the monetary base has also not contracted so that we have had the experience that the governments are.
very well able to deal with the crisis there is a growing chorus of voices that says if chris. can't manage its fiscal affairs properly it should suffer the damage what would be the consequences if such a decision were taken to that default well if if the greek government or her defaulted to openly then. some bangs many bangs would have losses that were fried down it's. the greek banks would not be able to stand a default all of the greek governments we have had many sovereign debt crises in the last thirty years lots of countries have defaulted the government declares a moratorium on recovery and says so we are unable to service that sorry and can we please have to go she oceans with the banks and the other creditors and then that would be a haircut as
a just cause. and the banks have to swallow it if if if the bailout funds. not increased any more then. than the default would be inevitable so they are really trying to postpone the inevitable the monetary union of the euro's been going for over a decade now how likely is it that by trying to resolve this crisis we bring forth the likelihood of a fiscal you need to know that. the fiscal union would weaken the independence of the central bank because if you have. an economic government as sarkozy says to film our economy. then you have a strong contact weigh it against the european central bank and they can put combine political pressure on the european central bank which is bad for all stability of the currency like what i was told this would be really very bad on the
other hand we need more fiscal discipline but the way to get to for. discipline is not a fiscal union in the works in the sense of off for this economic government but to strict rules strict rules for deficits which. with with sanctions in case of fire and this will see or original idea of stability and growth pact this was excellent but. then the governments decided not to implemented this was in two thousand and five. and what we really need now is revamping the stability and growth pact with automatic sanctions. this would require a change in the treaty. but since the government's one to change the treaty any whole in order to allow bailouts they could do that to a certain time observers in the usa have been watching all of this with increasing consternation and they've been calling for more europe not less right know how
likely is that to happen united states. administration. has two obvious interest first of all they don't want to support their banks again so they want to avoid losses for their banks so they like to bail out. secondly they want. a stimulus for the business cycle in america from abroad they are always willing to accept since the one nine hundred fifty s. we have that so they are always clamoring for expensive policies abroad. the bailout. bailouts. prevent the greek government from being as restrictive you need to expenditure policy as would have to be in the case of a default if you have
a default you do not get any more money in the capital market but what we are having now is there. still get money. from the other governments saw this system is better for the greek government then why do you fault and it would lead to. war government expenditure them in the case with you for some commentators have been saying that in the efforts to try and solve this crisis the likelihood of a united states of europe as it's being called is growing ever closer if that did come about what do you think it would look like i think initially it will be. less centralized than the united states of america. will be more like switzerland or canada. but we know from history of that one to create a federal state. there are strong forces for more centralized.
this hasn't even been the case in switzerland. not in canada but such this very special. that's very special because in canada we have. a province quebec's which is quite powerful and would try. tries to prevent the centralization and maybe maybe britain maybe britain will will be with a quebecor fuel. slowing the style but the question is of course whether britain will want to remain in this type of federal state professor travel thank you very much for your time you.
of italy and spain with their governments prepping to tighten belts even further. at least ten people dead more than sixty injured in a bomb blast near the high court in new delhi india preliminary reports suggest the explosives were left in a suitcase near the building. a number of gadhafi loyalists including his security chief leave libya for neighboring the share with the whereabouts of the colonel himself still one known this as concerns grow over what kind of regime could replace him. among others up next with swards so tell us how the russian ice hockey authorities have made a move that will benefit young players all over europe sure kontinental hockey league said junior version of the m.h.l. has now expanded to six european countries and i believe it was there as the league's doors are wide open for any new clubs and countries for that matter in the years to come stick around.
hello and welcome to sport here in our d.c. coming to you live from the russian capital with me romano calls for plenty of stories up ahead but first as usual headlines. a goal is draw on russia failed to beat arlin's in their all important new roads once it's well qualifier right here in moscow despite plenty of chances. last in new york the u.s. open was halted at flushing meadows as showers forced the organizers to cancel day nine of the grand slam events. and clear skies in serbia russian parachute masters dominated the european freefall style and accuracy landing championships. to start with football were a year old one since well qualifiers were held across the continent on tuesday night russia missed the chance to extend their lead that's up of group b.
as they were held to a frost raising goal this draw by arlin's richard vaughan for sleep has more. russia came into a clash of violent knowing they were up against a side but hadn't conceded a goal in the last six matches however the home team went out to a night run and andrea sharyn went close here only to beat annoyed by a smart start by this diskeeper shape given given who is a dive of the match but once again for the home team as he flung himself to his right to do the eagle some show of what would have been his second goal in four days for his country however when the irish people is finally beaten he had richard dunne to frank next a moot point because the count's men have a ball for to some showing oceans of space however the dinar mosco midfield as effort was brilliantly stopped on the line by the aston villa central defender and some have a visitors went into the half time break goalless just by the russians playing thirteen shots on goal to islands one russia continue to dominate after the
resumption i'm going to shove in was once again excellent for the home side he was helps enormously by the r.h. defenses reluctance to closing down he also forward found some shot again however of thirty three year old elected to past a roman publishing co when trying to get a shot on target would surely have been the better option with time running out of the russians threw everything at a resolute arash defense just two minutes from time consulting the owner of what he'd wanted for dick of the count's men but given was once again in the right place of the right time to deny a busy midfielder with his legs so russia had to settle for a points about the cats said his science for finishing rather than ireland's resolute defending was the main reason his team failed to get a much needed when. players. who did fill the score was all respect. for the.
even when the game the first going there we played. the first game and if you can do that against a team like ireland that gives a lot of confidence an excellent result for ireland to stay well in contention to try and qualify automatically for next year's european championships and giovanni trapattoni was full of praise for his side. and the determination and application of the players especially the senior players like done given and mcginty was actual and this gave the younger members of our squad so much inspiration this helped us get what i believe is a golden point so russia missed a golden opportunity to extend their lead at the top of group b. and bell now face a crucial encounter in bratislava next on the seventh of october richard dotsie moscow. groupies and other clashes slovakian missed the chance to join russia at the summit says there were thrashed by armenia for nail and hold with all goals
scored in the second half and macedonia beat rob also i'm sore and hold one nil and let's bring up the standings now russia are in salt with seventeen points despite the fact that it seems have been scoreless in two home games are two points behind and will go to bottoms even zora for their next match armenia are third at this point and will face macedonia next while slovakia are in for needing a win in their next home and count against leaders russia now the country that created football england's beat wales one nil it wembley thanks it's a goal by imagine so united's ashley young and also in that group switzerland were stronger than bulgaria three one and are still fighting for a second place. yeah sure felt the last fifteen minutes and go to where they were chances are you're going to drill a bigger and field things so much to those with all three of them it's explaining to the more that the ultimatum and now we go to play to go into
that. with the modern likes of announce a tennis now and the u.s. open which has been halted due to a rainy weather in new york several matches were scheduled in shoes they including the remaining men's a fourth round clash featuring rafa nadal and then mary and two women's quarter finals where russians did as followed over would have been up against australia is samantha stosur the organizers rescheduled all its eyes for wednesday but again it will be all up to the weather as showers continue in new york. so let's take a look at who made it into the next round before it started raining out there so a russian ladies are in the quarter final stage however so that a lot of soul is not one of them as she was knocked out by world number one carolyn was now keep. now let's move to those from russia that that qualify where i'm asked to see a public interest test him on it in the last sixteen the russian loss of a calendar and in their previous three grand slam meetings by the twenty year old
improved on that record by winning five seven six three six or so and probably the chunk of our are now the sole russian ladies with a chance to take the title at flushing meadows. let's move to ice hockey now and some exciting news for young european players the continental hockey league is already a well recognized brand name among fans of the sports its latest project m.h.l. was founded in two thousand and nine and is already becoming a major ice hockey league for junior players in europe at inception it consisted of twenty two teams from russia but the following year the number of teams grew to a scene nine and clubs from latvia and bill routes were added as well that's when the eleven season will see fifty sides from six countries compete for the title majority of the sides are still from russia though however the league is growing far beyond the country's borders into slovakia latvia lithuania belarus and
kazakhstan the m.h.l. will now be divided into two groups with thirty two teams competing for the car lot of trophy in group eight well group b. will house eighteen or lower ranked clubs where the two best teams will be promoted to the top flight the following season now the main objective of this league is to offer players chance to grow as athletes without leaving their countries as nearly fifteen hundred youngsters will play in the n.h.l. next season. due. to completion is key for young players skilled perfection the junior hockey league has been developing dynamically and strictly in accordance with the tasks said by its founders one of which was to create the strongest youth leak in the world if we achieve that it will decrease the outflow of young promising. funny whatever goes up must come down and these guys make a living out of it the russian parachute masters a recently dominated at the
european freefall style and accurate i care as a landing championships in serbia it was of course the looks of the trials and tribulations faced by those high flying and fast landing competitors. ascending to cruising altitude of one thousand meters is followed by a swift freefall back down with virtually no margin of error the competitor is expected to land on a dime with a dead center sweet spot only two centimeters in diameter and while such consistent precision landings may seem far fetched to the uninitiated they are considered to be the fundamentals of the sport. every athlete must always learn the basics of their sport before going any further calculating a jump is the most fundamental aspect of parachute sports and safety that's why i believe all youngsters should start with the classic parachuting discipline we've got kids coming in at sixteen years old some of whom go on to become junior well
champions by twenty. the individual acrobatics program meanwhile requires one to twist and turn in the air at an alarming rate and simply executing flashing chris movements is not enough either. the judges getting the opposite of bird's eye view for this event to see if participants can keep a straight of the trajectories possible while they perform the flips and like in every sport be a successful high flying daredevil requires a specific skill set and personality but if he's. done besides being brave i believe anyone participating in the sport must be physically developed and have coordination wolf it will definitely help for insurance while playing billiards will help one make more precise landing calculations. russian women proving to be the bravest in serbia taking the overall honors and dominating fashion the czech showed just a little bit more savvy than the russians in the men's event goal to win gold frenchwoman deborah planned for zero meanwhile set the world record for her lending
persuasion six consecutive landings just one centimeter off putting her exactly where she wanted to be every time a total of seventeen countries taking to the skies but russia's main parachuting men hopes for more local support in getting high. humans have always had dreams of reaching for the skies and flying we created planes and rockets in the sport that we have today is another manifestation of that design to fly safely government will notice and help our efforts allowing us to raise our level of performance and while the more grounded sports seem to get more exposure these daredevils are hoping this competition continues to take off in russia and worldwide event sikorsky our team i'll be back with more in a couple hours a boss our youtube channel is available at any time look for our team sport news hope you like it.
killed more than sixty injured as a bomb tears through the city's high court. independent calls for independence from the u.k. grow louder and wales more nationalist fervor is coupled with a desire to have control over its own economy. and nominees are now at the third annual global policy forum here and you're a squabble where today's focus is security and multiculturalism join me later in the program for more details. one pm in moscow i might try so good to have you with us here on r t our top story germany's constitutional court has just issued a ruling on the legality of eurozone bailouts were it up held the country's involvement in the multi-billion rescue fund.